Land’s value has a lot to do with zoning code
Author: nicker
Category: Investors Insights
If you have 3 acres of land, but the zoning code classified it as farmland and only allow you to build one house on 3 acres, then this land will not make your house appreciate faster than average. If for the same land size, the zoning code allow you to build multiple unit residences, then people will bid it up and it will worth a lot. In most suburban settings, older neighborhood often has big lot, but the zoning can only allow 1 house to be built on that lot, even if it’s 20000 sqft large. In this case, the large lot doesn’t give you advantage.
investment property
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